The surge in Motsepe’s fortune is linked to the performance of his 45.9-percent stake in African Rainbow Minerals (ARM).
African Rainbow Minerals
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Africa’s first Black billionaire Patrice Motsepe’s ARM acquires $2.8-million stake in Toronto-listed firm
Motsepe, boasting a net worth of $2.5 billion, derives a significant portion of his wealth from his substantial stake in ARM, cementing …
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Africa’s first Black billionaire Patrice Motsepe’s ARM reports $157.8 million in earnings
Headline earnings plummeted by 43 percent, falling from R5.17 billion ($275.5 million) in the first half of 2023 to R2.96 billion ($157.8 …
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Motsepe, Africa’s first Black billionaire and a prominent South African tycoon, holds a 45.9-percent stake in ARM, or 89,905,401 shares.
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The court decision impacts the ARM-Glencore joint venture’s financial standing.
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Africa’s first Black billionaire Patrice Motsepe’s ARM acquires stake in South African nickel mine
This acquisition aligns with Motsepe’s earlier announcement of ARM’s proactive pursuit of valuable lithium and copper assets.
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Patrice Motsepe’s wealth takes a significant $1 billion hit due to the sustained downturn in the market value of his 40.37-percent stake …
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Schmidt was CEO and executive director at ARM from 2011 to 2023. During his tenure, he led ARM to impressive financial milestones.
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Motsepe expressed concerns about the soaring prices of these essential metal assets in the context of the clean energy transition.
- Southern Africa
Africa’s first Black billionaire Patrice Motsepe to receive $56 million in dividends from ARM
Motsepe, who founded ARM in 1997 as South Africa’s first Black-owned mining firm, presently owns a 40.37-percent stake in the company.